African Unification Front
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SECURITIES AND CAPITAL MARKETS IN THE AFRICAN UNION
Unlike in the banking industry, where deposits are guaranteed by the governments of the constituent republics of the African Union, stocks, bonds and other securities can lose value.
(AFRIQUE DE L'OUEST) BOURSE REGIONALE DES VALEURS MOBILIERES
Regional Exchange of Transferable Securities [BRVM]
The Abidjan Stock Exchange (Bourse des Valeurs d'Abidjan), Ivory Coast, was the only stock exchange in the francophone West African countries until the formation of BRVM in 1998. It was established in 1974, started trading in 1976, and was closed at the end of December 1997.
Market stats for mid-July 2001
Shares : 902 428 294 245 F CFA
Bonds : 83 268 785 280 F CFA
The SGI. are the principal organizers of the regional stock exchange market. They profit from the exclusiveness in the negotiation in the transferable securities with dimensions to the Regional exchange and ensure the conservation of the titles mainly, on behalf of the customers.
They are made up in legal commercial companies in anonymous form having the statute of financial institution.
To organize the primarily professional character of the Regional exchange the S.g.i. are held to take part in the capital of the B.r.v.m. with height of at least forty million (40.000.000) Francs C.f.a. and at least twenty million (20.000.000) Francs C.f.a. for the DC/br.
In order to reinforce the security of the market, each SGI. must have a minimum capital of one hundred fifty million (150.000.000) Francs C.f.a. and to justify of a qualified personnel, having obtained professional cards.
With regard to their tariff policy, the SGI. are free to determine their commissions, subject to a homologation of the Regional Council.
Three types of S.g.i. are made up:
S.g.i. of network are created by Financial Institutions such as the Banks;
S.g.i. from place emanate from a whole of operators of the same Member State of the Union;
The independent S.g.i. originate in the entrepreneurship of groups of companies and/or physical people.
LINKS TO SECURITIES & STOCKS EXCHANGES
Ghana Stock Exchange
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